German leasing company Grenke AG is to undergo a special audit by BaFin, the Federal Financial Supervisory Authority of Germany, Reuters news agency has reported.
The consulting company Mazars had started the investigation on behalf of BaFin, Grenke AG told investors on 28 September.
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“Right from the start, we promised full transparency and, of course, extensive cooperation with the supervisory authorities,” Grenke boss Antje Leminsky told Reuters.
It is in the interests of the company, the employees, customers and investors that the allegations of the British investor Fraser Perring are eliminated, she said.
Perring, a short-seller who bets on falling share prices of certain companies, accuses Grenke of fraud, money laundering and falsification of accounts, among other things.
The BaFin audit is being carried out under Section 44 of the Banking Act (KWG).
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By GlobalDataIn a statement, Leminsky, chair of the board of directors of Grenke AG, said: “We have assured full transparency and, of course, full cooperation with the regulators right from the beginning.
“It is in the interest of Grenke AG, its employees, business partners and investors that the unsubstantiated accusations that have been made are quickly cleared up. The investigation will further contribute to this,” Leminsky said.
Grenke AG has already commissioned two independent external audit reports: KPMG was already commissioned on September 28 to conduct a special audit, which in particular reviews the substance of the business.
Also, the independent auditing firm Warth & Klein Grant Thornton was asked on September 24 to examine the market conformity of the franchise acquisitions of the past and their advantageousness for Grenke AG.
Grenke AG calls in two sets of auditors after short-seller raises fraud claims
